U.S. Trade Deficit Widened in 1997;
Gap Was Second-Highest in History

WASHINGTON -- The U.S. current-account trade deficit widened substantially last year, even though the economy still hadn't felt the full impact of financial turmoil in Asia.

The Commerce Department reported that the broadest measure of the deficit swelled last year to a seasonally adjusted $166.45 billion -- the second highest red-ink total on record -- from $148.18 billion in 1996. For last year's final quarter, the deficit rose to a...